“During the second quarter of the year, 51% of home searches by urban residents of the 100 largest metro areas were for suburban properties near their areas, according to the quarterly Cross Market Demand Report released by realtor.com” Read more about it below.
Outward Urban Migration
It’s no secret that the housing market is booming! With things like low-interest rates, people have been taking steps to make the dream of homeownership a reality and leave the rental life behind. However, low rates aren’t the only reason people have been so eager to buy homes during a pandemic.
Madison is a great choice when relocating from the city in search of more space. It’s a suburb of New York City, so it’s an easy commute. It is one of the best places to live in New Jersey and offers a peaceful, suburban feel. Madison has a lot of fantastic restaurants, coffee shops, and parks. If you are looking for a great place to raise a family, the public schools in Madison are highly rated.
Home sales rose by 20% after two months of decline, according to Realtor.com. Which means it’s a great time to sell your home. While we are still in unchartered waters regarding the pandemic and how it relates to the market, things seem to be picking up, especially here in the northeast.
“Whereas a normal spring market would see enthusiastic activity from late March through late June or early July, mid-summer is “going to feel like a boom.” We are feeling the affects of the hot market and seeing the “outward urban migration.”